Scotiabank closes previously announced transaction to fully acquire Scotia Group Jamaica Limited

TORONTO, Oct. 30, 2026 /CNW/ -- Scotiabank today announced the successful completion of its previously announced acquisition of all of the outstanding ordinary shares of Scotia Group Jamaica Limited ("SGJL") that it did not already own pursuant to a court-approved Scheme of Arrangement (the "Transaction"), effective as of October 30, 2026.

The Transaction is part of Scotiabank's strategy to optimize capital and operational efficiency across its existing footprint.

Following completion of the Transaction, the SGJL shares are expected to be delisted from the Jamaica Stock Exchange.

The total cash consideration being paid to minority shareholders is approximately C$0.6 billion and the CET1 ratio impact is estimated to be approximately 8 basis points.

About Scotiabank

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at July 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

SOURCE Scotiabank

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